FTE & BBVA? Help!
 

Hi Guys,

So you've been given an offer of acceptance from FTE. Next step is to secure funding. I have contacted BBVA but to understand the situation from someone from has been through the process I have the following questions.

How long does the loan take from start to finish, considering the home I am to secure the loan against has no mortgage?

What is the maximum they will loan you?

I understand its straight forward and they require no business plans etc, is this correct?

Many Thanks for any help. :)

Melissa

Anyone!?? :S

Hi,

They will lend you the full amount and they advise you to start the loan application 2 months before you head out to FTE.

You may have difficulty because the house you are lending against has no mortgage (one of my friends was in the same situation)

You don't need to show them a business plan as they are very familiar with FTE and the setup with regards to the amount of money and timescales etc.

I advise you to ring them as they are very helpful!

Martyn.

Hi,

I'm going through the process at the moment. I would recommend talking to the bank too, Sergio is probably the best contact.

Not sure about the business plan bit...FTE emailed me a copy to send out, then i spoke to BBVA and they sent me a load more info so i would definitely say to speak to them to find out EXACTLY what they want from you.

Agree with Martyn about the house with no mortgage bit, not sure how they will see that. Do start the process early though as i know they have a reputation for being a bit 'manana' about everything!!!